,fundam5tals ( ,prosp]ity               
,:at ,!y ,are &                         
,:5ce ,!y ,come                         
,by                              ,,rog] 
,w4 ,,babson                ,presid5t   
,babson ,/ati/ical ,organization        
,,new ,,york         ,,*icago           
,flem+ ,h4 ,revell ,company             
,,london   ,,&   ,,ed9burgh             
,copyright1 #aibj1 by                   
,,flem+ ,h4 ,,revell ,,company          
,new ,york3  #aeh ,fif? ,av5ue          
,*icago3    #ag ,nor? ,waba% ,ave4      
,london3     #ba ,pat]no/] ,squ>e       
,ed9burgh3  #ge ,pr9ces ,/reet          
,cont5ts            ,,=eword        ,i4 
,,hone/y ,,or ,,/eel ,,doors8           
,,ii4 ,,fai? ,,! ,,se>*light ,,(        
,,bus9ess      ,,iii4 ,,indu/ry ,,vs4   
,,opportunity       ,,iv4               
,c,o,oe,p,e,r,a,t,i,o,n--,,success ,,by 
,,help+ ,,! ,,o!r ,,fell[        ,v4    
,,our ,,real ,,res\rces       ,,vi4     
,,/udy ,,! ,,human ,,s\l      ,,vii4    
,,boo/ ,,! ,,o!r ,,fell[     ,,viii4    

,,:at ,,truly ,,c\nts       ,,ix4 ,,:at 
,,figures ,,%[        ,x4 ,,:]e ,,!     
,,*ur* ,,falls ,,d[n       ,,xi4 ,,!    
,,future ,,*ur*    ,=eword   ,"s two    
?\s& ye>s ago ! greate/ tea*] :o ev]    
walk$ ! e>? advis$ ! p ( ,judea n to    
build _! h\ses on ! s&4 ,:at he _h 9 m9d
 0 t !y 7 look+ too mu* to ! /ructure   
above gr\nd1 & too little to ! spiritual
 =ces :i* mu/ be ! f\ndation ( any      
/ructure :i* is to /&4 ,foll[+ ! w> we  
enjoy$ ! greate/ prosp]ity ?is c\ntry   
has ev] witness$2--! greate/ activity1 !
 greate/ bank cle>+s1 ! greate/ =eign   
trade1 ! greate/ railroad gross e>n+s1 !
 highe/ commodity prices4  ,we !n       
con/ruct$ a t5-/ory build+ on a         
f\ndation meant = only a two or ?ree    
/ory build+4 ,h5ce ! problem confront+ u
 bus9ess m5 is to /r5g!n ! f\ndation or 
else see ! /ructure fall4 ,i am         
especially glad ( ! opportunity to write
 = bus9ess m54 ,!re are two             
reasons3--fir/1 because ,i feel t !     
bus9ess m5 are l>gely responsible = hav+

 ?is t5-/ory /ructure on a f\ndation    
made = "o ( only two or ?ree /ories2    
secondly1 because ,i believe su* m5     
alone h ! vision1 ! imag9ation & !      
ability to /r5g!n ! f\ndation & prev5t !
 /ructure f fall+4  ,! fact is1 we h    
become crazy ov] mat]ial ?+s4 ,we are   
look+ only at ! /ructure above gr\nd4   
,we are try+ to get m smoke f ! *imney4 
,we are look+ at space in/ead ( s]vice1 
at pr(its in/ead ( volume4 ,) our eyes  
focus$ on ! /ructure above gr\nd1 we h  
lo/ sight ( ^? human res\rces1 ?rift1   
imag9ation1 integrity1 vision & fai? :i*
 make ! /ructure possible4 ,i feel t    
only by ! bus9ess m5 c ?is f\ndation be 
/r5g!n$ be=e ! inevitable fall comes4   
,:5 /eel rails 7 sell+ at #ee a ton1    
comp>$ ) only #be a ton a few ye>s      
previ\s1 our /eel plants increas$ _!    
capacity tw5ty-five p] c5t4 ,increas$   
dem&1 y say8 ,no1 ! figures don't %[ x4 
,only ?irty-"o million tons 7 produc$ 9 
#aiai1 comp>$ ) ?irty-n9e million tons 9
 #aiaf4 ,p h =gott5 ! gospel ( s]vice4  

,! produc+ p[] p] man has fall5 (f f    
fifte5 to tw5ty p] c5t4 ,we h all be5   
ke5 on develop+ consumption4 ,we h      
devot$ n9e-t5?s ( our ?\ght1 en]gy &    
ef=t to develop+ consumption4 ,?is      
message is to beg ( e read] to give m   
?\ght to develop+ production1 to !      
reviv+ ( a desire to produce & !        
realization ( joy 9 production4  ,we are
 sp5d+ millions & millions 9 e city to  
develop ! good-w ( cu/om]s1 to develop 9
 cu/om]s a desire to buy4 ,?is is all   
well & good1 b we c't cont9ue to g 9 "o 
direction indef9itely4 ,we _c always get
 /eam out ( ! boil] )\t fe$+ ! furnace4 
,! "t has come :5 9 our own int]e/s1 9 !
 int]e/s ( our communities1 our indu/ry1
 & ( ! nation itself1 = a :ile we mu/   
/op add+ m /ories to ?is /ructure4      
,in/ead1 we mu/ /r5g!n ! f\ndations ^u  
:i* ! entire /ructure re/s4             
,r4 ,w4 ,b4     ,i  ,,hone/y ,,or ,,/eel
 ,,doors8      ,:ile fifty-"o p] c5t ( !
 p h _! eyes on     ! goal ( integrity1 
our inve/m5ts are secure2 b     )       

fifty-"o p] c5t ( !m head$ 9 ! wrong    
direction1 our inve/m5ts are valueless4 
,! fir/     fundam5tal ( prosp]ity is   
,integrity4   ,:ile on a rec5t visit to 
,*icago1 ,i 0 tak5 by ! presid5t ( "o ( 
! l>ge/ banks to see 8 new safety       
deposit vaults4 ,he describ$ ^!--z bank 
presid5ts w--z ! l>ge/ & mo/ m>vell\s   
vaults 9 ! city4 ,he expatiat$ on !     
heavy /eel doors & ! v>i\s electrical & 
me*anical contrivances :i* protect !    
/ocks & bonds deposit$ 9 ! in/itution4  
,:ile at ! bank a p]son came 9 to r5t a 
box4 ,he made ! arrangem5ts = ! box1 & a
 box 0 h&$ to him4 ,9 x he deposit$ "s  
/ocks & bonds :i* he took f 8 pocket4   
,!n ! cl]k :o _h *>ge ( ! vaults w5t to 
a rack on ! wall & took out a key & gave
 x to ! man :o _h r5t$ ! box4 ,! man !n 
put ! box into "o ( ! little /eel       
comp>tm5ts1 %ut ! door & turn$ ! key4   
,he !n w5t away feel+ p]fectly secure on
 acc\nt ( ^? /eel doors & v>i\s         
me*anical & electrical contrivances     
exi/+ to protect 8 weal?4  ,i did n wi% 

to give him a sleepless night s ,i said 
no?+2 b ,i c\ldn't help ?9k+ h[ easy x  
w\ld h be5 = t poorly-paid1 humpback$   
cl]k to make a duplicate ( t key be=e he
 deliv]$ x to ! r5t] ( t box4 ,) su* a  
duplicate1 ! cl]k c\ld h made t man     
p5niless )9 a few m9utes aft] he _h left
 ! build+4 ,! great /eel door & !       
electrical & me*anical contrivances w\ld
 h be5 absolutely valueless4  ,( c\rse !
 po9t ,i am mak+ is t ! real security   
:i* t great bank 9 ,*icago _h to (f] its
 cli5tele lay n 9 ! massive /one columns
 9 front ( its /ructure2 nor 9 ! heavy  
/eel doors2 nor ! electrical & me*anical
 contrivances4 ,! real /r5g? ( t        
in/itution re/$ 9 ! hone/y1--! absolute 
integrity--( its cl]ks4         99      
99       99       99       99  ,t       
aft]noon ,i 0 talk+ ab\t ! matt] ) a    
bus9ess man4 ,we 7 discuss+ securities1 
e>n+s & capitalization4 ,he seem$       
greatly tr\bl$ by ! mass ( figures be=e 
him4 ,i said to him3 ,in/ead ( paw+ ov] 
^! e>n+s & /riv+ to select y\rself !    

safe/ bond1 y w d bett] to g to a       
reliable bank] or bond-h\se & leave !   
decision ) him4  ,:y1 he said1 ,i       
c\ldn't d t4  ,mr4 ,jones1 ,i w5t on1   
tell me ! tru?6 ,aft] y buy a bond or a 
/ock c]tificate1 d y ev] take ! tr\ble  
to see if x is sign$ & c\nt]sign$       
prop]ly8 ,moreov]1 if y f9d x sign$1 is 
!re any way by :i* y may "k :e!r !      
signature is g5u9e or =g$8  ,no1 he     
said1 !re isn't4 ,i am absolutely       
dep5d5t on ! integrity ( ! bank]s f :om 
,i buy ! securities4  ,& :5 y ?9k ( x1  
!re is really no value at all 9 ! pieces
 ( pap] :i* "o s c>efully locks up 9 ^! 
safety deposit boxes4 ,!re is no value  
at all 9 ! bank-book :i* we s c>efully  
*]i%4 ,!re is no value at all 9 ^? de$s 
& mortgages ^u :i* we dep5d s           
completely4 ,! value re/s fir/1 9 !     
integrity ( ! lawy]s1 cl]ks & /5ograph]s
 :o draw up ! pap]s2 secondly1 9 !      
integrity ( ! (fic]s :o sign ! docum5ts2
 ?irdly1 9 ! integrity ( ! c\rts &      
judges :i* w\ld enable u to en=ce our   

claims2 & f9ally1 9 ! integrity ( !     
community :i* w\ld det]m9e :e!r or n !  
ord]s ( ! c\rt w be execut$4  ,^! ?+s   
:i* we look ^u z ( great value3--!      
/ocks1 bonds1 bank-books1 de$s1         
mortgages1 insurance policies1 etc41 are
 m]ely no?+4 ,:ile fifty-"o p] c5t4 ( ! 
p h _! eyes on ! goal ( ,integrity1 our 
inve/m5ts are secure2 b ) fifty-"o p]   
c5t4 ( !m head$ 9 ! wrong direction1 our
 inve/m5ts are valueless4 ,s ! fir/     
fundam5tal ( prosp]ity is integrity4    
,)\t x !re is no civilization1 !re is no
 peace1 !re is no security1 !re is no   
safety4 ,m9d y also t ?is applies j z   
mu* to ! man :o is work+ = wages z to ! 
capitali/ & e own] ( prop]ty4           
,integrity1 h[ev]1 is v mu* broad] ?an !
 above illu/ration w\ld indicate4       
,integrity applies to _m m ?+s ?an to   
money4 ,integrity requires ! seek+ aft]1
 z well z ! disp5s+ (1 tru?4 ,x 0 ?is   
desire = tru? :i* f\nd$ our educational 
in/itutions1 our sci5ces & our arts4    
,all ! great pr(essions1 f m$ic9e to    

eng9e]+1 re/ ^u ?is _s ( integrity4     
,only z !y s re/1 c !y prosp] or ev5    
survive4  ,integrity is ! "m ( k4 ,!    
desire = tru? is ! basis ( all le>n+1 ! 
value ( all exp]i5ce & ! reason = all   
/udy & inve/igation4 ,)\t integrity z a 
basis1 our entire educational sy/em w\ld
 fall to ! gr\nd2 all newspap]s &       
magaz9es w\ld become s\rces ( great     
dang] & ! publication ( books w\ld h to 
be suppress$4 ,our :ole civilization    
re/s ^u ! assumption t p are hone/4 ,)  
?is confid5ce %ak51 ! /ructure falls4 ,&
 x %\ld fall1 =1 unless ! tru? be       
taught1 ! nation w\ld be mu* bett] (f   
)\t its s*ools1 newspap]s1 books &      
pr(essions4 ,bett] h no gun at all1 ?an 
"o aim$ at y\rself4 ,! corn]-/one (     
prosp]ity is ! /one ( ,integrity4       
,,ii  ,,fai? ,,! ,,se>*light ,,(        
,,bus9ess      ,?is religion :i* we talk
 ab\t = an h\r a week1 on     ,sunday1  
is n only ! vital =ce :i* protects our  
community1 b x is ! vital =ce :i* makes 
our     communities4 ,! p[] ( our       

spiritual =ces has n yet     be5 tapp$4 
,ab\t ?ree ye>s ago ,i 0 travell+ 9 ,s\?
 ,am]ica4 ,:5 go+ f ,sao ,paulo up      
across ! tablel&s to ,rio ,janeiro1 ,i  
pass$ ?r\gh a little pov]ty-/rick5      
,indian village4 ,x 0 "s #c1jjj feet    
above sea level2 b x 0 locat$ at ! foot 
( a great wat]-p[]4 ,?is wat]-p[]1 ,i 0 
told1 c\ld easily develop f #aj1jjj to  
#ae1jjj horse-p[] = twelve mon?s ( !    
ye>4 ,at ! base ( ?is wat]fall liv$ ^!  
pov]ty-/rick5 ,indians1 pl[+ _! gr\nd ) 
brok5 /icks1 br++ _! corn two hundr$    
miles on _! backs f ! seacoa/1 & gr9d+ x
 by h& betwe5 two /ones4 ,yet1--) a     
little fai? & vision1 !y c\ld h develop$
 t wat]-p[]1 ev5 ?\gh 9 a mo/ primitive 
mann]1 & ) irrigation1 c\ld h made t    
pov]ty-/rick5 valley a v]itable ,g>d5 ( 
,ed54 ,!y simply lack$ fai?4 ,!y lack$  
vision4 ,!y 7 unwill+1 or unable1 to    
look ahead to d some?+ = ! next g5]ation
 & tru/ to ! ,"l = ! results4  ,i met ! 
head man ( ! village & said to him3 ,:y 
is x t y don't d some?+ to develop ?is  

p[]8  ,:y1 if we />t$ to develop ?is ?+1
 he answ]$1 by ! "t we got x done1 we   
w\ld be dead4  ,indians _h liv$ !re = ! 
la/ two hundr$ ye>s lack+ ! vision4 ,no 
"o 9 t community _h ! =esight or vision 
to ?9k or see beyond ! end ( 8 day4 ,x 0
 lack ( fai? :i* /ood betwe5 !m &       
prosp]ity4 ,h5ce1 ! second great        
fundam5tal ( prosp]ity is t intangible  
some?+1--kn[n z fai?1 vision1 hope1     
:atev] y may call x4  ,! writ] ( ! ,book
 ( ,prov]bs says3 ,:]e !re is no vision1
 ! p p]i%4 ,/ati/ics tea* t :]e !re is  
no vision1 civilization nev] gets />t$6 
,! tangible ?+s :i* we prize s          
highly1--build+s1 railroads1 /eam%ips1  
factories1 p[] plants1 telephones1      
a]oplanes1 etc41 are b ! result ( fai? &
 vision4 ,^! ?+s are only symptoms (    
conditions1 m]e b>omet]s :i* regi/] !   
fai? & vision ( mank9d4  ,?is religion  
:i* we talk ab\t = an h\r a week1 on    
,sunday1 is n only ! vital =ce :i*      
protects our community1 b x is ! vital  
=ce :i* makes our communities4 ,! p[] ( 

our spiritual =ces has n yet be5 tapp$6 
,our gr&*ildr5 w look back ^u u & wond] 
:y we neglect$ our tru/ & our           
opportunity1 j z we look back on ^? poor
 ,indians 9 ,brazil :o pl[$ ) crook$    
/icks1 gr9d+ _! corn betwe5 /ones &     
haul+ x on _! backs two hundr$ miles f !
 seabo>d4         99       99       99  
99       99  ,^! /atem5ts are n ! result
 ( any special int]e/ z a *ur*man4 ,i am
 n a prea*]4 ,i am simply a bus9ess man1
 & my "w is almo/ :olly = bank]s1       
brok]s1 manufactur]s1 m]*ants &         
inve/ors4 ,! conc]n ) :i* ,i am         
associat$ has "o hundr$ & eighty p 9 a  
suburb ( ,bo/on :o are collect+1 compil+
 & di/ribut+ /ati/ics on bus9ess        
conditions4 ,we h only "o s\rce (       
income1 & t is f ! cli5ts :o pay u = an 
analysis ( ! situation4 ,!re=e y may re/
 assur$ t x is impossible = u to d any  
propag&a "w 9 ! int]e/s ( any "o nation1
 sect1 religion or *ur*4 ,! only ?+ we c
 give cli5ts is a conclusion bas$ on a  
diagnosis ( a giv5 situation4 ,z        

probably few ( y read]s are cli5ts (    
ours1 may ,i quote f a ,bullet9 :i* we  
rec5tly s5t to ^! bank]s & manufactur]s8
  ,! ne$ ( ! h\r is n m legislation4 ,! 
ne$ ( ! h\r is m religion4 ,m religion  
is ne$$ ev]y:]e1 f ! halls ( ,congress  
at ,wa%+ton1 to ! factories1 ! m9es1 !  
fields & ! =e/s4 ,x is "o ?+ to talk    
ab\t plans or policies1 b a plan or     
policy )\t a religi\s motive is l a wat*
 )\t a spr+ or a body )\t ! brea? (     
life4 ,! tr\ble1 to-day1 is t we are    
try+ to hat* *ick5s f /]ile eggs4 ,we   
may h ! f9e/ incubator 9 ! _w & op]ate x
 accord+ to ! mo/ improv$               
regulations--moreov]1 ! eggs may appe>  
p]fect specim5s--b unless !y h ! g]m (  
life 9 !m all our ef=ts are ( no avail4 
,i h ref]r$ to ! fact t ! security ( our
 inve/m5ts is absolutely dep5d5t ^u !   
fai?1 ! righte\sness & ! religion ( o!r 
p4 ,i h /at$ t ! real /r5g? ( our       
inve/m5ts is due1 n to ! di/+ui%$ bank]s
 ( ,am]ica1 b r to ! poor prea*]s4 ,i n[
 g f>!r ?an t & say t ! developm5t ( !  

c\ntry z a :ole is due to ?is some?+1   
?is indescribable some?+1 ?is comb9ation
 ( fai?1 ?rift1 indu/ry1 initiative1    
integrity & vision1 :i* ^! prea*]s h    
develop$ 9 _! communities4  ,fai? &     
vision d n come f ! weal? ( a nation4   
,x's ! fai? & vision :i* produce !      
weal?4 ,! weal? ( a c\ntry does n dep5d 
on its raw mat]ials4 ,raw mat]ials are  
to a c]ta9 ext5t ess5tial & to a great  
ext5t valuable2 b ! nations :i* to-day  
are ri*e/ 9 raw mat]ials are ! poore/ 9 
weal?4 ,ev5 :5 consid]+ "o c\ntry--!    
,unit$ ,/ates--! pr9ciple holds true4 ,!
 coal & iron & copp] h be5 "h 9 ?is     
c\ntry = ?\s&s ( ye>s1 b only )9 ! la/  
fifty ye>s h !y be5 us$4 ,wat]-p[]s exi/
 ev5 to-day absolutely unh>ness$4 ,look 
! :ole _w ov] & !re has be5 no increase 
9 raw mat]ials4 ,!re exi/$ "o ?\s& ye>s 
ago m raw mat]ials ?an we h to-day1 b we
 !n lack$ m5 ) a vision & ! fai? to take
 t coal out ( ! gr\nd1 to h>ness !      
wat]-p[]s1 to build ! railroads & to d  
o!r ?+s wor? :ile4 ,s ,i say1 ! second  

great fundam5tal ( prosp]ity is ,fai?4  
,,iii  ,,indu/ry ,,vs4 ,,opportunity    
,indu/ry is ! "m ( inv5tion4 ,/ruggle1  
sacrifice     & burn+ midnight oil h    
produc$ ! cotton g91 !     sew+ ma*9e1 !
 pr9t+ press1 ! /eam eng9e1 !           
electric motor1 ! telephone1 ! inc&esc5t
 lamp &     ! o!r great inv5tions (     
civilization4 ,"s religi\s     en?usia/s
 ?9k only ( ! lilies ( ! fields &       
=get ! p>able ( ! tal5ts4   ,a few ye>s 
ago ,i 0 employ$ by "o ( ! l>ge/ publi%+
 h\ses 9 ! c\ntry to make a /udy (      
,am]ica's capta9s ( indu/ry4 ,! real    
purpose ( ! /udy 0 to discov] "s indu/ry
 or "s man t c\ld be help$ greatly ?r\gh
 national adv]tis+4 ,9 connection ) t   
/udy ( ^? capta9s ( indu/ry1 ,i tabulat$
 _! ance/ry4 ,^! 7 ! sev5ty greate/     
manufactur]s1 m]*ants & railroad        
build]s1 ! lead+ m5 :o h made ,am]ica by
 develop+ ! fields1 ! =e/s1 ! m9es & !  
indu/ries4 ,:at did ,i f9d8 ,i f\nd t   
only five p] c5t4 ( ^! capta9s ( indu/ry
 are ! sons ( bank]s2 only t5 p] c5t4 ( 

!m are ! sons ( manufactur]s2 fifte5 p] 
c5t4 ( !m are ! sons ( m]*ants1 :ile ov]
 ?irty p] c5t4 ( !m are ! sons ( poor   
prea*]s & f>m]s4  ,:y is x t m9i/]s'    
sons hold a mu* m important place 9 !   
indu/rial developm5t ( ,am]ica ?an !    
sons ( bank]s8 ,! m9i/]s' sons inh]it no
 weal?1 !y h no m ?an _! %>e ( college  
education2 !y are n especially religi\s 
z ! _w measures religion4 ,9 fact1 !re  
is an old say+ ab\t m9i/]s' sons &      
deacons' daught]s4 ,i w\ld be false to  
my reputation z a /ati/ician to hold up 
^! capta9s ( indu/ry z sa9tly examples =
 "y m5 to foll[4 ,b ! fact rema9s       
nev]!less t ^! m5 are creat+ ,am]ica    
to-day4 ,n[1 :at's ! reason8  ,! reason 
is t ^! m5 h a comb9ation ( ! two traits
 already m5tion$ & a ?ird add$          
!reto2--namely1 ! habit ( "w4 ,!y h     
inh]it$ a c]ta9 rugg$ integrity f _!    
mo!rs & a gift ( vision f _! fa!rs :i*1 
:5 comb9$ ) ! habit ( "w--=c$ ^u !m by  
_! family's meag] income--means p[]4    
,integrity is a dry se$ until put 9 !   

gr\nd ( fai? & all[$ to gr[4 ,b fai? )  
works is prosp]ity4  ,a man may be hone/
 & wond] :y he does n get ahead2 a man  
may h vision & /ill rema9 only a dream]2
 b :5 integrity & vision are comb9$ )   
h>d "w1 ! man prosp]s4 ,x is ! same )   
classes & nations4  ,x has be5 said t   
g5ius is ! au?or ( inv5tion4 ,/ati/ics d
 n support ?is /atem5t4 ,! facts %[ t   
indu/ry is ! "m ( inv5tion4 ,/ruggle1   
sacrifice & burn+ midnight oil h produc$
 ! cotton g91 ! sew+ ma*9e1 ! pr9t+     
press1 ! /eam eng9e1 ! electric motor1 !
 telephone1 ! inc&esc5t lamp & ! o!r    
great inv5tions ( civilization4  ,:y is 
x t mo/ ( ! able m5 9 our great         
indu/ries came f ! c\ntry di/ricts8 ,!  
reason is t ! c\ntry boy is tra9$ to "w4
 ,/ati/ics indicate t v seldom does a   
*ild1 br\ght up 9 a city ap>tm5t h\se1  
am\nt to mu*2 :ile ! *ildr5 ( well-to-d 
city p are s]i\sly h&icapp$4 ,! great   
educator ( ! previ\s g5]ation 0 n !     
public s*ool1 b r ! wood box4 ,^? ( u   
p>5ts :o h n a wood box = our *ildr5 to 

keep fill$1 or *ores = !m to d1 are     
un=tunate4  ,run ?r\gh ! li/ ( ! greate/
 capta9s ( indu/ry1 z !y come to y\r    
m9d4 ,h[ _m ( ! m5 :o are really direct+
 ! c\ntry's bus9ess ga9$ _! position    
?r\gh inh]it$ weal?8 ,y w f9d !m        
a/oni%+ly few4 ,!re is no div9e "r ( k+s
 9 bus9ess4 ,9 fact1 /ati/ics %[ u t ! v
 ?+s :i* mo/ p ?9k ( z advantages1      
namely1 weal? & n hav+ to "w are really 
ob/acles :i* are r>ely surm\nt$4        
,indu/ry & ?rift are closely alli$4     
,economic /udies %[ cle>ly t n9ety-five 
p] c5t4 ( ! employ]s are employ]s       
because !y sy/ematically sav$ money4    
,any man :o sy/ematically saves money f 
e>ly y\? automatically becomes an       
employ]4 ,he may employ ?\s&s or he may 
h only two or ?ree cl]ks 9 a c\ntry     
/ore1 b he nev]!less is an employ]4 ,^! 
same /udies %[ t n9ety-five p] c5t4 ( ! 
wage work]s are wage work]s because !y h
 sy/ematically sp5t _! money z fa/ z !y 
h e>n$ x4 ,!y ( necessity rema9 wage    
work]s4 ,^! are facts :i* no lab\r lead]

 c disprove & :i* are exce$+ly          
significant4 ,?is is especially /rik+ :5
 "o consid]s t ! employ] (t5 />t$ out at
 ! same wages & 9 ! same community z 8  
wage work]s4 ,! employ] 0 naturally     
indu/ri\s & ?rifty2 :ile ^? :o rema9$   
wage work]s 7 n4  ,! developm5t ( ?is   
nation ?r\gh ! con/ruction ( !          
transcont95tal railways1 ! f9anc+ ( !   
we/]n f>ms1 & ! build+ ( our cities is  
l>gely due to ! old ,new ,engl& doctr9e 
t laz9ess & extravagance are s9s4 ,9 "s 
we/]n communities x is popul> to laugh  
at ^! ,new ,engl& traits2 b _h x n be5 =
 !m1 ^! we/]n communities w\ld nev] h   
exi/$4 ,! indu/ry & ?rift develop$ by ! 
old ,new ,engl& religion 7 ! basis ( our
 national gr[?4  ,i especially desire to
 emphasize ?is po9t because ( ! position
 ( c]ta9 religi\s en?usia/s :o ?9k only 
( ! lilies ( ! field & =get ! p>able ( !
 tal5ts4 ,x is a fact t ! ?ird          
fundam5tal ( prosp]ity is ,indu/ry4     
,,iv  ,c,o,oe,p,e,r,a,t,i,o,n--,,success
 ,,by ,,help+ ,,! ,,o!r ,,fell[         

,our indu/rial sy/em has result$ 9 mak+ 
_m m5     economic eunu*s4 ,! salvation 
( our cities1 !     salvation ( our     
indu/ries & ! salvation ( our     nation
 dep5d on discov]+ some?+ :i* w revive  
9 man t desire to produce & joy 9       
production :i*     he _h in/9ctively :5 
he 0 a small boy4   ,a few days ago ,i 0
 pres5t at a d9n] ( bus9ess m5 9 ,bo/on 
:o 7 call$ toge!r 9 ord] to secure "s   
pref]5tial freight rates =              
,massa*usetts4 ,! pr9cipal !me ( t ga!r+
 0 to boom ,massa*usetts at ! exp5se ( !
 re/ ( ! c\ntry4 ,at ! close ( ! d9n] ,i
 0 ask$ to give my op9ion & said3 ,let u
 see h[ _m ?+s !re are 9 ?is room t we  
c\ld h 7 we dep5d5t solely on           
,massa*usetts4 ,! *airs & furniture are 
f ,mi*igan2 ! cotton is f ,georgia2 !   
l95 f ,irel&2 ! silv] f ,mexico2 !      
glassw>e f ,p5nsylvania2 ! pap] f ,ma9e2
 ! pa9t f ,miss\ri2 ! clock f           
,connecticut--& s on4 ,f9ally ,i got !  
c\rage to ask if !re 0 a s+le ?+ 9 !    
room t did n orig9ate f "s /ate o!r ?an 

,massa*usetts4 ,^? m5 7 absolutely      
helpless 9 f9d+ a s+le ?+4  ,! same fact
 applies 9 a g5]al way to e /ate & e    
home4 ,look ab\t1 :]e y are sitt+ n[4   
,h[ _m ?+s are !re 9 ! room j :]e y     
are1--!re is a table1 a *air1 a %oe1 a  
coat1 a necktie1 a cig>1 a lamp%ade1 a  
piano1 a basket--= all ( ^! y are       
dep5d5t ^u o!rs4  ,! same fact is true  
:5 we analyze "o /aple l %oes :i*1      
prim>ily1 are made ( lea!r4 ,:]e does ! 
lea!r come f8 ,j foll[ t lea!r f ! back 
( ! /e] until y buy x 9 ! =m ( %oes4    
,?9k :]e t /e] 0 rais$1 & :]e ! lea!r 0 
tann$4 ,?9k ( all ! m5 engag$ 9 !       
indu/ry f ! c[-pun*]s to ! salesm5 9 !  
/ores4 ,b !re is m ?an lea!r involv$ 9  
%oes4 ,!re is cotton 9 ! %oe lac+ & l9+4
 ,!re is metal 9 ! nails & eyelets4 ,n  
only mu/ diff]5t localities cooep]ate to
 produce a %oe2 b v>i\s indu/ries mu/   
give & take likewise4  ,civilization is 
ultimately dep5d5t on ! ability ( m5 to 
cooep]ate4 ,! be/ b>omet] ( civilization
 is ! desire & ability ( m5 to          

cooep]ate4 ,! will+ness to %>e )        
o!rs1--! desire to "w ) o!rs is ! great 
contribution :i* ,*ri/ianity has giv5 to
 ! _w4 ,! effect ( ?is new _s is mo/    
?rill+ :5 "o consid]s ! clo!s :i* he has
 on 8 back1 ! food :i* he has on !      
table1 ! ?+s :i* he has 9 ! h\se1 & ?9ks
 ( ! ?\s&s ( p ^: lab\r has directly    
contribut$ t[>d ^! ?+s4 ,n[ ?is cle>ly  
%[s t ! f\r? great fundam5tal (         
prosp]ity is cooep]ation1 ! will+ness & 
ability ( m5 to cooep]ate1 to s]ve "o   
ano!r1 to help "o ano!r1 to give & to   
take4  ,b ! tea*+s ( ,jesus along ^!    
l9es h a v mu* broad] application ?an :5
 appli$ m]ely to raw mat]ials1 or ev5   
manufactur$ products4 ,z we c beg9 to   
prosp] only :5 we develop into f9i%$    
products ! raw mat]ials ( ! fields1 m9es
 & =e/s1 s we c become truly prosp]\s   
only z we develop ! greate/ ( all       
res\rces1--! human res\rces4 ,n only    
does ,*ri/ianity dem& t we seek to help 
& build up o!rs2 b our own prosp]ity    
dep5ds !reon z well4         99       99

       99       99       99  ,:5 9      
,wa%+ton1 dur+ ! w>1 ,i _h a wond]ful   
opportunity ( meet+ ! repres5tatives (  
bo? lab\r & capital4 ,i _h "s           
preconceiv$ ideas on ! lab\r "q :5 ,i   
w5t to ,wa%+ton2 b n[ !y are all gone4  
,i am p]fectly will+1 n[1 to agree ) !  
wage work]1 to agree ) ! employ]1 to    
agree ) bo? or to agree ) nei!r4 ,b ?is 
"o ?+ ,i am sure (1 & t is t ! pres5t   
sy/em doesn't "w4 ,! pres5t sy/em is    
fail+ 9 gett+ m5 to produce4  ,by nature
 man likes to produce4 ,our boy1 z soon 
z he c toddle out-(-doors1 />ts         
in/9ctively to make a mud pie4 ,:5 he   
gets a little old] he gets "s bo>ds1    
%+les & nails & builds a hut4 ,j z soon 
z he gets a knife1 d y h to %[ him h[ to
 use x8 ,he in/9ctively beg9s to make a 
boat or an arr[ or p]haps some?+ he has 
nev] se54 ,:y8 ,because 9 8 s\l is a    
natural desire to produce & an inborn   
joy 9 production4 ,b :at happ5s to mo/ (
 ^! boys aft] !y gr[ up8  ,our indu/rial
 sy/em has result$ 9 almo/ /ultify+ m5  

economically & mak+ mo/ ( !m            
economically non-productive4 ,:y8 ,i    
don't "k4 ,i simply say x happ5s & !    
salvation ( our indu/ries dep5ds on     
discov]+ some?+ :i* w revive 9 man t    
desire to produce & t joy 9 production  
:i* he _h in/9ctively :5 he 0 a small   
boy4  ,increas$ wages w n d x4 ,%ort]   
h\rs w n d x4 ,! wage work] mu/ feel "r 
& ! employ] mu/ feel "r4 ,x is all a "q 
( feel+4 ,feel+s rule ?is _w1--n ?+s4 ,!
 reason t "s p are n successful )       
collective b>ga9+ & pr(it %>+ & all ^!  
o!r plans is because !y ?9k t m5 act    
accord+ to :at !y say1 or accord+ to :at
 !y le>n1 or accord+ to t 9 :i* !y      
agree4 ,m5 act accord+ to _! feel+s1 &  
good feel+ is synonym\s ) ! _s (        
cooep]ation4 ,"o _c exi/ )\t ! o!r &    
prosp]ity _c cont9ue )\t bo?4 ,h5ce !   
f\r? fundam5tal ( prosp]ity is          
,cooep]ation4     ,v  ,,our ,,real      
,,res\rces      ,we h gone daffy ov] ?+s
 l /eam1 electricity1     wat] p[]1     
build+s1 railroads1 & %ips & we h       

=gott5 ! human s\l ^u :i* all ( ^! ?+s  
dep5d & f :i* all ( ^! ?+s orig9ate4    
,two capta9s ( indu/ry 7 /&+1 "o day1 on
 ! bridge at ,niag>a look+ at ! great   
falls4 ,"o man turn$ to ! o!r & said3   
,behold ! greate/ s\rce ( undevelop$ p[]
 9 ,am]ica4  ,no4 ,! greate/ s\rce (    
undevelop$ p[] 9 ,am]ica is ! s\l ( man1
 ! o!r repli$4  ,i 0 talk+ ) a l>ge     
manufactur] ! o!r day1 & he told me t he
 0 support+ s*ol>%ips 9 f\r univ]sities 
to enable "y m5 to /udy ! raw mat]ials  
:i* he is us+ 9 8 plant4 ,i ask$ him if 
he 0 support+ any s*ol>%ips to /udy !   
human elem5t 9 8 plant1 & he said ,no4  
,yet :5 ask$ = def9ite figures1 x appe>$
 t eighty p] c5t4 ( e doll> :i* he      
sp5ds1 goes = lab\r1 & only tw5ty p]    
c5t4 goes = mat]ials4 ,he is end[+ f\r  
s*ol>%ips to /udy ! tw5ty p] c5t4 & is n
 do+ a ?+ to /udy ! eighty p] c5t46     
,/ati/ics %[ t ! greate/ undevelop$     
res\rces 9 ,am]ica are n our m9es or our
 =e/s or our /reams1 b r ! human s\ls ( 
! m5 & wom5 :o "w = u4  ,?is is mo/     

significant :5 "o resorts to /ati/ics & 
le>ns t ev]y?+ t we h1--e improvem5t1 e 
railroad1 e %ip1 e build+ co/+ 9 excess 
( #e1jjj1 e manufactur+ conc]n employ+  
ov] tw5ty m51 yes1 e newspap] & book    
wor? :ile1 has orig9at$ & be5 develop$ 9
 ! m9ds ( less ?an two p] c5t4 ( ! p4 ,!
 solution ( our indu/rial problems & !  
r$uction ( ! co/ ( liv+ dep5d n on      
fight+ ov] :at is already produc$1 b ^u 
produc+ m4 ,?is means t ?is two p] c5t4 
mu/ be increas$ to f\r p] c5t41 & !n to 
six p] c5t4 ,if all ! good ?+s :i* we n[
 h1 come f ! ent]prise ( only two p]    
c5t41 x is evid5t t we w\ld all h ?ree  
times z mu* if ! two p] c5t 7 increas$  
to six p] c5t4  ,jesus 0 absolutely "r 9
 ,8 cont5tion t if we w\ld seek fir/ !  
,k+dom ( ,god & ,8 righte\sness all ^!  
o!r ?+s w\ld naturally come to u4 ,?is  
is :at ,jesus _h 9 m9d :5 ,he urg$ p to 
give & s]ve1 promis+ t su* giv+ & s]v+  
%\ld be return$ to !m a hundr$ fold or  
m4 ,jesus nev] prea*$ unselfi%ness or   
talk$ sacrifice z su*1 b only urg$ ,8   

he>]s to look ?r\gh to ! end1 see :at ! 
f9al result w\ld be & d :at w\ld be be/ 
= !m 9 ! long run4 ,jesus urg$ ,8       
foll[]s to consid] ! spiritual ?+s r ?an
 ! mat]ial1 & ! et]nal ?+s r ?an !      
temporal2 b n 9 ! _s ( sacrifice4 ,!    
only sacrifice :i* ,jesus ask$ ( ,8 p 0 
! same sacrifice :i* ! f>m] makes :5 he 
?r[s 8 se$ into ! soil4  ,! /ory ( !    
loaves & fi%es is /ill taught z a       
miracle1 b ! day w come :5 x w n be     
consid]$ su*4 ,! same is true reg>d+ !  
incid5t :5 ,jesus f\nd t ,8 disciples _h
 be5 fi%+ all night )\t results & ,he   
sugge/$ t !y ca/ ! net on ! o!r side4   
,!y foll[$ ,8 advice & ! net imm$iately 
fill$ ) s _m fi%es t !y c\ld h>dly pull 
x up4 ,if we to-day w\ld give m ?\ght to
 ! spiritual & less to ! mat]ial1 we    
w\ld h m 9 heal?1 happ9ess1 & prosp]ity4
 ,! bus9ess m5 to-day w\ld be f> bett]  
(f if--l ! fi%]m5 ( ,galilee--we w\ld   
take ,jesus' advice & ca/ our net on !  
o!r side4  ,we are told t ) suffici5t   
fai? we c\ld remove m\nta9s4 ,h m\nta9s 

ev] be5 remov$ or tunnell$ )\t fai?8 ,! 
bridg+ ( riv]s1 ! build+ ( railroads1 ! 
laun*+ ( /eam%ips1 & ! creation ( all   
indu/ries are dep5d5t on ! fai? (       
somebody4 ,too mu* cr$it is giv5 bo? to 
capital & lab\r 9 ! curr5t discussions (
 to-day4 ,! real cr$it = mo/ ( ! ?+s :i*
 we h is due to "s human s\l :i* suppli$
 ! fai? t 0 ! ma9spr+ ( e ent]prise4    
,fur!rmore 9 mo/ in/ances ?is human s\l 
owes ?is g]m ( fai? to "s little c\ntry 
*ur* ) a :ite /eeple & old-fa%ion$      
furni%+s4  ,! reason ,i say old-fa%ion$ 
*ur* is because our fa!rs 7 m will+ to  
rely ^u ! p[] ( fai? ?an _m ( u to-day4 
,:at !y lack$ 9 _m o!r ways 0 m ?an     
comp5sat$ by _! fai? 9 ,god4 ,!y got1   
?r\gh fai?1 t some?+ :i* m5 to-day are  
try+ to get ?r\gh e o!r means4 ,all !   
educators1 all ! psy*ologi/s1 all !     
inspirational writ]s _c put into a man !
 vision & ! w to d ?+s :i* are ga9$ by a
 cle> fai?4 ,mo/ ( u to-day are         
frantically try+ to inv5t a ma*9e :i* w 
solve our problems1 :5 all ! :ile we h !

 ma*9e )9 u1 if we w only set x go+4 ,t 
ma*9e is ! human s\l4  ,! great problem 
to-day is to develop ! human s\l1 to    
develop ?is wond]ful ma*9e :i* ea* "o ( 
u has betwe5 8 e>s4 ,only z ?is is      
develop$ c we solve our o!r problems4   
,:5 we give z mu* ?\ght to ! solution ( 
! human problem z we give to ! solution 
( ! /eam problem or ! electrical        
problem1 we w h no lab\r problem4 ,we h 
gone daffy ov] ?+s l /eam1 electricity1 
wat]-p[]1 build+s1 railroads & %ips1 &  
we h =gott5 ! human s\l ^u :i* all ( ^! 
?+s dep5d & f :i* all ( ^! ?+s orig9ate4
     ,,vi  ,,/udy ,,! ,,human ,,s\l     
,! fir/ /ep is to give m ?\ght &        
att5tion to     p1 to e/abli% m po9ts ( 
contact4 ,let u d     humanly1          
individually1 man to man1 :at we are    
try+ to     d 9 a great big way4   ,i 0 
visit+ ! home ( a fam\s manufactur]     
rec5tly & he took me out to 8 f>m4 ,he  
%[$ me 8 cattle4 ,above ! head ( ea*    
heif] & ea* c[ 0 ! p$igree4 ,! mo/      
c>eful record 0 kept ( e animal4 ,he _h 

a blue-pr9t 9 8 libr>y at home ( e "o ( 
^? animals4 ,yet :5 we began lat] to    
talk ab\t ! lab\r problem 9 8 own plant 
& ,i ask$ him h[ _m ( 8 p he knew       
p]sonally1 he told me1--,i quote 8      
words3  ,:y1 !y are all alike to me1    
,mr4 ,babson4 ,i don't "k "o f ! o!r4   
,lat] 9 ! ev5+--x 0 dur+ ! ,*ri/mas     
vacation--a "y fell[ drove up to ! h\se 
9 a fancy automobile1 came 9 & ask$ =   
?is manufactur]'s only daught] 9 ord] to
 take h] to a p>ty4 ,i didn't l ! looks 
( ! fell[ v well4 ,aft] !y _h gone out1 
,i said to ! fa!r3  ,:o is t *ap8  ,!   
fa!r repli$3 ,i don't "k2 "s fri5d (    
,m>y's4  ,! fa!r _h e "o ( 8 c[s        
blue-pr9t$1 b he didn't "k ! "n ( ! man 
:o came to get 8 daught] & :o didn't    
deliv] h] until two o'clock ! next      
morn+6 ,t man 0 neglect+ ! human s\l1   
bo? 9 8 factory & 9 8 home4         99  
99       99       99       99  ,i repeat
 t we h gone crazy ov] /ructures above  
gr\nd4 ,we are absolutely =gett+ !      
greate/ ( our res\rces1--! great        

spiritual res\rce1 ^u :i* ev]y?+ dep5ds4
 ,h[ %all we develop ^! res\rces8       
,c]ta9ly we are n develop+ ?is great    
spiritual res\rce 9 ! public s*ools4 ,! 
educational sy/em 0 orig9ally f\nd$ by !
 ,*ur* to tra9 ! *ildr5 9 ! fundam5tals 
( righte\sness4 ,gradually1 b con/antly1
 we h drift$ away f ?is goal & to-day ! 
purpose = :i* our s*ools 7 />t$ has be5 
almo/ entirely lo/4 ,9 "s /ates x is n[ 
a crim9al (f5ce = a s*ool sup]9t5d5t to 
ask a prospective s*ool tea*] :at %e    
believes or :e!r %e has any religion    
:atev]6 ,"u ^! conditions1 is x surpris+
 t ! spiritual res\rces ( our *ildr5 are
 ly+ dormant8  ,mu* ( ! prosp]ity ( ?is 
nation is due to ! family pray]s :i* 7  
once daily held 9 ! homes ( our fa!rs4  
,to a v l>ge ext5t ?is cu/om has gone   
by4 ,:atev] ! argum5ts pro & con may be1
 ! fact nev]!less rema9s t su* family   
pray]s nurtur$ & develop$ ^! spiritual  
res\rces to :i* ! prosp]ity ( ! nation  
is due4 ,! cu/om ( family pray]s %\ld be
 reviv$ along ) _m o!r good ,new ,engl& 

cu/oms :i* "s mod]n radicals may        
ridicule1 b to :i* !y owe all t !y      
possess4  ,! masses to-day are gett+ _! 
real education f ! daily newspap]s4 ,_m 
( ^! newspap]s h mu* good mat]ial1 b !  
great ef=t ( ! daily press is n to make 
produc]s1 b r to make consum]s4 ,!      
policy ( ! daily press is n to get p to 
s]ve1 b r to get !m to buy4 ,n only is !
 l>g] portion ( ! newspap]s giv5 up to  
adv]tis+1 b mo/ ( ?is adv]tis+ is (     
non-ess5tials1 if n ( luxuries4 ,) ?is  
adv]tis+ con/antly be=e ! p ( ! c\ntry1 
x is b natural t ! mat]ial ?+s %\ld seem
 ( greate/ importance4 ,to rem$y ?is    
situation is a great problem to-day fac+
 ! ,*ri/ian bus9ess m5 ( ?is c\ntry4    
,:at %all we d ab\t x8  ,! fir/ /ep is  
to give m ?\ght & att5tion to p1 & to   
e/abli% m po9ts ( contact4 ,let u d     
humanly1 individually1 man to man1 :at  
we are try+ to d 9 a great big way4     
,ano!r me?od to develop ?is human       
res\rce is to give p responsibility4    
,moreov]1 we mu/ d s if ! nation is to  

be truly prosp]\s4     ,,vii  ,,boo/ ,,!
 ,,o!r ,,fell[      ,j z our prop]ty is 
safe only z ! o!r fell['s     prop]ty is
 safe1 j z our daught] is safe only z ! 
o!r fell['s daught] is safe1 s x also is
 true t     9 ord] to develop ! human   
s\l 9 o!r m51 we h     to give ^? m5    
some?+4   ,my little girl has a black   
cat2 ab\t once 9 f\r mon?s ?is cat has  
kitt5s4 ,opposite our place is a man :o 
has an ,air$ale dog4 ,:5 t dog comes    
across ! /reet & t cat has no kitt5s1 ! 
cat imm$iately beats x z fa/ z %e c1 ) !
 dog aft] h]4 ,b :5 t dog comes across !
 /reet & t cat has ! responsibility ( "s
 kitt5s1 %e imm$iately turns on ! dog & 
! dog beats x ) ! cat aft] him4 ,x is ! 
same dog1 ! same cat1 & ! same backy>d2 
b 9 "o in/ance ! cat has no             
responsibilities & 9 ! o!r case %e has4 
,responsibilities develop fai?1 vision1 
c\rage1 initiative1 & o!r ?+s t make !  
_w g r\nd4  ,j z our prop]ty is safe1   
only z ! o!r fell['s prop]ty is safe2 j 
z our daught] is safe1 only z ! o!r     

fell['s daught] is safe2 s is x also    
true t1 9 ord] to develop ! human s\l 9 
o!r m51 we h to give ^? m5 some?+4 ,we  
mu/ give !m a *ance4 ,we mu/ give !m    
opportunity4 ,we mu/ give !m a boo/4    
,all ( u are simply /orage batt]ies4 ,we
 get out ( life :at we put into life4   
,we c>e = o!rs1 n 9 accordance ) :at !y 
d = u1 b r 9 accordance ) :at we h done 
= !m4  ,i am q (t5 ask$ ab\t inve/m5ts4 
,well1 !re are times1 ab\t once 9 ?ree  
or f\r ye>s--dur+ panics1 :5 e "o is    
sc>$ to dea?--t ,i inve/ 9 /ocks4 ,!re  
are o!r times :5 ,i advise ! pur*ase (  
bonds4 ,! fact is1 h[ev]1 t ,i h n made 
my money inve/+ ei!r 9 /ocks or bonds4  
,:at money ,i h made has come f inve/+ 9
 boys & girls1 "y m5 & "y wom54  ,!re is
 a common belief curr5t to-day t only p 
) exp]i5ce are wor? :ile4 ,b ,i say3    
,quit look+ = ! exp]i5c$ salesm5 & try+ 
to make a man out ( him2 get a man1 & !n
 make a salesman ( him4 ,i h a "y man 9 
my bus9ess :o 0 deliv]+ trunks = an     
express company twelve ye>s ago4 ,to-day

 he is my sales manag] & has built our  
gross f #ajj1jjj to #a1jjj1jjj4 ,"o ( my
 be/ exp]ts1 a man :o is s\ght = by !   
lead+ ,*amb]s ( ,comm]ce all ov] ! l&1 0
 a c>p5t] on my g>age n9e ye>s ago4     
,ano!r "o ( my exp]ts1 a man ! dem& = ^:
 s]vices ,i _c supply1 nev] acquir$     
recognition until he 0 ov] =ty-five ye>s
 ( age4 ,i f\nd him keep+ h5s at        
,wellesley ,f>ms6 ,a "y lady 9 my (fice 
to :om ,i pay #bjj a week & :o is wor?1 
to me1 #a1jjj a week1 ,i pick$ up at #d 
a week twelve ye>s ago4  ,su* cases exi/
 ev]y:]e4 ,y m5 y\rselves "k !m4 ,y look
 ov] y\r own organizations4 ,:o are ! m5
 :o are really do+ ?+s8 ,are !y ! m5 y  
acquir$ ready-made f o!r conc]ns8 ,no6  
,!y are ! m5 t h be5 tak5 up & develop$4
 ,^! are ! m5 t h made money = y & h    
creat$ ! bus9ess ent]prise ( :i* y are !
 head4 ,yet :5 we h rea*$ a po9t (      
pre/ige1 & h a big bus9ess1 we are      
tempt$ to say3 ,i hav5't "t to develop  
any m p1 ,i h got to get !m already     
made4 ,?is is a big mi/ake4         99  

99       99       99       99  ,i beg my
 read]s--^? :o h !m--to get y\r =em5    
toge!r4 ,say to ! p>tn]s or ! (ficials (
 y\r conc]n3 ,hav5't we giv5 too mu*    
?\ght to develop+ ! /ructure8 ,ar5't we 
pil+ too _m /ories "o ^u ano!r ) too    
little ?\ght to ! f\ndation8 ,!n g out &
 look ov] y\r plant & select a few p 9  
ea* dep>tm5t to :om y w give a real     
opportunity4 ,/>t 9 to develop !m &     
!reby /r5g!n ! f\ndation ( ! bus9ess & !
 prosp]ity ( ! nation4     ,,viii  ,,:at
 ,,truly ,,c\nts      ,! greate/        
res\rces 9 ! _w to-day are human        
res\rces1 n res\rces ( iron1 copp] &    
lumb]4 ,!     great ne$ ( ! h\r is to   
/r5g!n ?is human     f\ndation & y      
bus9ess m5 are ! "o gr\p t c     d x4   
,:5 x comes to ! sale ( goods1 ! same   
pr9ciple applies4 ,eighty p] c5t4 ( our 
sales organizations are devot$ to sell+ 
to t5 p] c5t4 ( ! population4 ,we h     
=gott5 to consid] :e!r or n goods are   
ne$$4 ,we only consid] :e!r or n !y are 
be+ b\ght4 ,we are =gett+ to e/abli% new

 m>kets1 b r are scrambl+ ov] ! m>kets  
already secur$4 ,trem5d\s opportunities 
exi/ 9 develop+ new indu/ries1 9 creat+ 
new communities1 9 relocat+ ! c5t] (    
production f "o community to ano!r      
community to mat* up ) ! c5t] (         
consumption4  ,we h =gott5 ! lat5t p[] 9
 ! human s\l1 9 ! individual1 9 !       
community1 9 ! diff]5t p>ts ( ! c\ntry4 
,we h =gott5 ^? human possibilities ^u  
:i* all prosp]ity ultimately dep5ds4 ,i 
_c p]haps emphasize ?is any m ?an by    
say+ t ! f\ndation ( progress is        
spiritual1 n mat]ial4  ,! greate/       
res\rces ( ! _w to-day are human        
res\rces1--n res\rces ( iron1 copp] &   
lumb]4 ,! great ne$ ( ! h\r is to /r5g!n
 ?is human f\ndation & revive 9 m5 a    
desire to produce & a joy 9 s]vice4     
,bus9ess m5 are ! "o gr\p t c d x4 ,!y  
und]/& ! emotions1 und]/& ! importance (
 ! intangible ?+s4 ,!y und]/& h[ to     
awak5 9 p new motives4 ,s my appeal is n
 to wait too long to revive man & awak5 
! s\l :i* is slumb]+ to-day4  ,! nation 

is only a mass ( individuals4 ,! true   
prosp]ity ( a c\ntry dep5ds ^u ! same   
qualities z ! true prosp]ity ( its p4 ,z
 religion is necess>y = ! man1 x is also
 necess>y = ! nation4 ,z ! s\l ( man    
ne$s to be develop$1 s also does ! s\l (
 ! nation4         99       99       99 
99       99  ,let me tell "o m p]sonal  
incid5t4 ,n long ago ,i 0 at my ,wa%+ton
 (fice sp5d+ ! week4 ,:ile !re a little 
,we/]n ,union mess5g] girl came 9 to    
apply = a position4 ,x 0 9 !            
aft]noon--ab\t half-pa/ five4 ,i 0 /ruck
 ) ! intellig5ce ( ! girl's face & ask$ 
h] two or ?ree que/ions4 ,%e 0 tir$4 ,i 
ask$ h] to sit d[n4 ,i 0 a/oni%$ to he> 
h] /ory4  ,%e _h be5 born & br\ght up 9 
! m\nta9s ( ,we/ ,virg9ia1--_m miles f  
civilization4 ,h] fa!r & "m di$ :5 %e 0 
f\r ye>s old4 ,%e _h be5 liv+ ) an old  
gr&fa!r & bro!r4 ,:5 ,i began to talk ) 
h] ,i f\nd h] to h a mo/ rem>kable      
acqua9tance ) ,em]son1 ) ,?oreau1 )     
,b]n>d ,%aw & ) ! old ,ea/]n writ]s4  ,i
 said to h]3 ,h[ is x t y are deliv]+   

telegrams 9 a khaki suit & a soldi] cap8
  ,%e repli$3 ,because ,i c\ld get no?+ 
else to d4 ,i liv$ d[n !re 9 ! m\nta9s j
 z long z ,i c\ld4 ,i _h to get to !    
city :]e ,i c\ld express myself &       
develop my f9] qualities4 ,:5 ,i got to 
,wa%+ton !re 0 no?+ t ,i c\ld d4 ,!y    
ask$ me if ,i c\ld typewrite1 b ,i _h   
nev] se5 a typewrit]4 ,f9ally1 aft]     
walk+ ! /reets = a :ile1 ,i got a job z 
a ,we/]n ,union mess5g]4  ,i wrote ,mrs4
 ,babson & made arrangem5ts to h ! girl 
come to ,wellesley & "w = a few mon?s ) 
! ,babson ,organization4 ,i saw 9 h]    
c]ta9 qualities :i*1 if develop$1 %\ld  
make h] v useful to someone some:]e4 ,%e
 came to ,wellesley4 ,ab\t a mon? aft]  
h] arrival ,i 0 oblig$ to leave on a two
 mon?s' trip & ,mrs4 ,babson invit$ h]  
up to d9e ! night be=e ,i left4 ,i told 
h] t ,i 0 go+ to speak :ile away on     
,am]ica's ,undevelop$ ,res\rces4 ,aft]  
d9n] %e w5t to my desk & took h] p5 &   
scribbl$ ^! l9es & said3  ,p]haps dur+  
y\r talk on ,am]ica's ,greate/          

,undevelop$ ,res\rces y w give ^? m5 a  
message f a ,we/]n ,union girl4 ,^! are 
! l9es %e wrote4 ,!y are by ,ella ,:eel]
 ,wilcox4    ,i gave a begg> f my little
 /ore ( weal? "s gold2   ,he sp5t ! %9+ 
ore1 & came aga9 & yet aga91   ,/ill    
cold & hungry1 z be=e4   ,i gave a      
?\ght--& ?r\gh t ?\ght ( m9e1   ,he f\nd
 himself1 ! man supreme1 div9e1   ,f$1  
clo!d & cr[n$ ) bless+ manifold2   ,& n[
 he begs no m4  ,! m9d ( man is a       
wond]ful ?+1 b unless ! s\l ( man is    
awak5$ he mu/ lack fai?1 p[]1           
orig9ality1 ambition1--^? vital elem5ts 
:i* make a man a real produc]4 ,i d n   
say t y c awak5 ?is =ce 9 e s\l4 ,if y  
are an employ]1 p]haps only a few ( all 
y\r employees c be made to und]/&4 ,b   
?is mu* is c]ta91--9 e man or woman 9   
:om y c loose ! p[] ( ?is invisible     
some?+1 y w mobilize a =ce1 n only = 8  
or h] good1 b = ! good & p]haps ! v     
salvation ( y\r own bus9ess4     ,,ix   
,,:at ,,figures ,,%[      ,panics are   
caus$ by spiritual causes r ?an         

f9ancial4 ,prosp]ity is ! result (      
righte\sness     r ?an ( mat]ial ?+s4   
,! l>ge black areas on ! adjo9+ *>t are 
=m$ by comb9+ & plott+ curr5t figures on
 ,new ,build+1 ,crops1 ,cle>+s1         
,immigration1 ,total ,=eign ,trade1     
,money1 ,failures1 ,commodity ,prices1  
,railroad ,e>n+s1 ,/ock ,prices &       
,politics 9 ord] to give a composite    
view ( bus9ess 9 ! ,unit$ ,/ates4 7,:5  
,int]/ate ,comm]ce reports ( e>n+s ( all
 ,unit$ ,/ates railroads became         
available1 ,janu>y1 #aiji1 ?is record 0 
sub/itut$ 9 place ( ! e>n+s ( t5        
repres5tative roads :i* _h be5 us$      
previ\s to t "t4 ,revis$ scales =       
monet>y figures 7 also introduc$1 9     
,augu/1 #aiab47  ,illu/ration  ,! l9e   
,x-,y repres5ts ! c\ntry's net ga9 or   
gr[?4 ,bas$ on ! economic !ory t action 
& reaction are equal :5 ! two factors ( 
"t & int5sity are multipli$ to =m an    
area1 ! sums ( ! areas above & bel[ said
 l9e ,x-,y mu/1 ov] suffici5tly long    
p]iods ( "t1 be equal1 provid$ en\gh    

subjects are includ$1 prop]ly weigh$ &  
comb9$4 ,an area ( prosp]ity is always  
foll[$ by an area ( depression2 an area 
( depression 9 turn is always foll[$ by 
an area ( prosp]ity4 ,! areas1 h[ev]1   
ne$ n h ! same %apes4  ,x w be se5 t ea*
 area is divid$ into halves by a n>r[   
:ite l9e4 ,?is is to emphasize ! fact t 
! fir/ halves ( areas bel[ ! ,x-,y l9e  
are really reactions f ! extravagance1  
ineffici5cy & corruption :i* exi/$ dur+ 
! latt] half ( ! prec$+ prosp]ity area4 
,contr>iwise1 ! fir/ halves ( areas     
above ! ,x-,y l9e are really reactions f
 ! economy1 indu/ry & righte\sness      
develop$ dur+ ! h>d times j prec$+4 ,!  
high po9ts ( ! /ock m>ket h come 9 !    
e>ly "p ( ! prosp]ity areas & ! l[ po9ts
 h come ab\t ! beg9n+ ( ! depression    
areas4 ,9 #aiad ! w> held d[n prices (  
all securities4 ,! highe/ prices ( bonds
 h usually come ab\t ! end ( !          
depression areas & high money rates1 &  
l[e/ bond prices at ab\t ! end ( !      
prosp]ity areas4  ,b :at causes ^!      

fluctuations 9 bus9ess & prices8        
,/ati/ics %[ t panics are caus$ by      
spiritual causes1 r ?an f9ancial1 & t   
prosp]ity is ! result ( righte\sness r  
?an ( mat]ial ?+s4 ,h5ce1 ! importance  
to indu/ry & comm]ce ( ! =ces already   
m5tion$4 ,^! spiritual =ces are ! true  
fundam5tals ( prosp]ity4 ,?is 9 turn    
leads u to consid] f :]e !y come & ^u   
:at we are to dep5d = _! fur!r          
developm5t4 ,! foll[+ pages w give !    
answ]4         99       99       99     
99       99  ,:at are ! s\rces ( ^!     
fundam5tals ( prosp]ity8 ,:]e d we get  
?is fai?1 integrity1 indu/ry1           
cooep]ation & int]e/ 9 ! s\l ( man ^u   
:i* civilization is bas$8  ,z already   
expla9$1 we d n get x f ! raw mat]ials4 
,we h always _h ! raw mat]ials4 ,we d n 
get x f education4 ,f a /ati/ical po9t (
 view ,g]many is ! be/ educat$ c\ntry 9 
! _w4 ,x has ! lea/ illit]acy4 ,x has ! 
l>ge/ p]c5tage ( sci5tific culture4 ,no1
 ^! ?ree fundam5tals d n come f         
education4 ,!y d n come f ! inh]itance (

 prop]ty4 ,i m5tion$ 9 ! prec$+ pages ! 
inve/igation we made ( lead+ capta9s (  
indu/ry 9 ,am]ica1 ! m5 :o head ! v>i\s 
greate/ indu/ries 9 ?is c\ntry4 ,out (  
?is gr\p ( m51 only t5 p] c5t4 inh]it$  
_! bus9ess1 :ile only fifte5 p] c5t4    
receiv$ special education4 ,?is %[s t ! 
s\rce ( ^! qualities is f some?+ m ?an  
weal? or education4  ,we are /riv+ & ev5
 slav+ to lay up prop]ty = our *ildr51  
:5 /ati/ics cle>ly %[ t ! m we lay up = 
!m ! worse (f !y are go+ to be4 ,if     
/ati/ics demon/rate any "o ?+1 !y       
demon/rate t ! less money we leave our  
*ildr5 ! bett] (f !y w be2 n only       
spiritually & physically1 b also        
f9ancially4 ,:5 x comes to ! "q (       
education1 we "w & economize to give our
 *ildr5 an education & to s5d our *ildr5
 to college4 ,yet /ati/ics %[ t only a  
small p]c5tage ( ^! lead+ bus9ess m5 are
 college graduates4  ,! success (       
individuals1 ! success ( communities1 ! 
success ( nations1 dep5ds on ^!         
fundam5tals1--integrity1 fai?1 indu/ry1 

bro!rly k9dness & an int]e/ 9 ! s\l (   
man4 ,to :at d we owe ^! great          
fundam5tal qualities8 ,/ati/ics %[      
cle>ly t we owe !m to religion4 ,yes1 & 
to ! old-fa%ion$ religion ( our =efa!rs4
 ,moreov]1 ,i say ?is n z a *ur*man4 ,i 
w\ld give ! same message if ,i 7 speak+ 
to a gr\p ( bank]s or a gr\p ( eng9e]s4 
,i 0 fir/ br\ght into ! ,*ur* ?r\gh !   
,*ri/ian ,endeav\r ,society1 b ,i 0     
really conv]t$ to ! ,bible tea*+s ?r\gh 
a /udy ( /ati/ics4  ,to religion we owe 
our civilization & to ! ,*ur* we owe our
 religion4 ,all !re is 9 ! _w to-day t  
is wor? :ile comes f m5 fill$ )1 & f    
gr\ps actuat$ by1 ^! fundam5tals (      
integrity1 fai?1 indu/ry1 bro!rly love &
 ^? o!r factors :i* come only ?r\gh     
,god4 ,! ,*ur* to-day des]ves ! cr$it = 
keep+ ^! factors be=e ! _w4 ,h5ce1 x is 
evid5t t ! p ( ,am]ica h n ! bank]s to  
?ank = _! security & prosp]ity1 b r !   
prea*]s & ! *ur*es4 ,to ^! m5 we are    
obligat$ = our gr[? & developm5t4     ,x
  ,,:]e ,,! ,,*ur* ,,falls ,,d[n        

,become saturat$ ) ,*ri/'s pr9ciples1 be
 clean &     upright1 cooep]ate ) "o    
ano!r1 h fai?1 s]ve1     tru/ !         
,almighty = ! results1 & y w nev]     h 
to worry ab\t prop]ty4 ,if y w d ^!     
?+s1 all ( ! o!rs w be giv5 to y4   ,!re
 are two gr\ps ( p :o criticize ! ,*ur*4
 ,fir/1 !re are ^? :o claim great love =
 _! fell[-m51 b d n g to *ur* because x 
is alli$ ) ! prop]ty int]e/s ( !        
community4 ,i believe t to be !         
fundam5tal reason :y ! wage work]s1     
lab\r lead]s1 sociali/s & radicals are n
 int]e/$ 9 ! ,*ur*4 ,!y believe t !     
,*ur* is too closely alli$ ) prop]ty4 ,i
 h be5 sev]ely criticiz$ myself =       
pres5t+ ! ,*ur* z a def5d] ( prop]ty & z
 a means ( mak+ y\r home1 y\r bus9ess & 
y\r securities saf]4 ,su* critics are   
p]fectly consci5ti\s & ! ,*ur* suff]s   
mu* because ^? p1 9 _! love = humanity1 
are antagoni/ic to ! ,*ur*4  ,! second  
gr\p are ^? def5d]s ( prop]ty :o look ^u
 ! ,*ur* z impractical2 :o consid] !    
,gold5 ,rule z some?+ all "r = ! m9i/]  

to talk ab\t on ,sundays1 b some?+      
useless to try to foll[ dur+ ! week4 ,^?
 m5 criticize ! ,*ur* = prea*+ love1 =  
talk+ ! ,s]mon on ! ,m\nt1 & = be+ :at  
!y say is impractical4 ,s ! ,*ur* suff]s
 to-day by hav+ bo? ( ^! gr\ps /& (f    
alone4 ,nei!r ( !m is int]e/$ 9 ! ,*ur*1
 ! mo/ important organization 9 ,am]ica4
 ,x is ! ,*ur* :i* has creat$ ,am]ica1  
:i* has develop$ our s*ools1 :i* has    
creat$ our homes1 :i* has built our     
cities1 :i* has develop$ our indu/ries1 
:i* has made our hospitals1 *>ities1 &  
:i* has done ev]y?+ t is wor? :ile 9    
,am]ica4  ,yet to-day1 ! ,*ur* is ! mo/ 
disc>d$ indu/ry ( all1 because x has n !
 cooep]ation ( ei!r ( ! above gr\ps1--! 
radical gr\p :i* claims to be int]e/$   
only 9 humanity & n 9 prop]ty1 & !      
prop]ti$ gr\p :i* frankly says t x is   
prim>ily int]e/$ 9 prop]ty & n humanity4
 ,x seems t we %\ld /op side-/epp+ ?is  
"q4 ,in/ead we %\ld face x squ>ely &    
answ] bo? ( ^! criticisms4 ,my answ] is 
z foll[s3  ,jesus 0 n int]e/$ 9 prop]ty1

 p] se4 ,!re is no "q b t ,jesus _h no  
int]e/ 9 prop]ty4 ,^! ?+s :i* look s    
important to u1--h\ses1 roads1 taxation1
 build+s1 fields1 crops1 =eign trade1   
%ips1--x is v evid5t 7 insignificant to 
,jesus4 ,:5 any ( ,jesus' disciples came
 to ,him to settle "s prop]ty "q1 ,he   
pu%$ !m aside & said ,he 0 too busy to  
consid] x4 ,i am sure t if ,jesus 7 "h  
to-day1 ,he w\ld tell u all t we are    
idiots = /riv+ s to accumulate          
?+s--build+ ourselves bigg] h\ses1 gett+
 bigg] bank acc\nts & m automobiles4    
,h5ce1 :5 ! sociali/ or ! radical or !  
lab\r lead] compla9s to me1 ,i frankly  
admit ?is fact4 ,)\t d\bt ! ,*ur* %\ld  
emphasize t prop]ty ( itself is ( no    
value1 & ! only ?+s wor? :ile 9 life are
 happ9ess & ! heal? & ! fre$om :i* come 
f liv+ an upright1 simple life4  ,on !  
o!r h&1 & ?is po9t ,i wi% to emphasize j
 z /rongly1 ,jesus took ! position      
?r\gh\t ,8 tea*+s1 t if ,8 disciples    
w\ld simply get saturat$ ) ,8           
fundam5tals1 if !y w\ld be clean &      

upright1 if !y w\ld cooep]ate ) "o      
ano!r1 if !y w\ld h fai? to s]ve & tru/ 
! ,almighty = ! results1 !y w\ld nev] h 
to worry ab\t prop]ty4 ,prop]ty w\ld    
take c>e ( itself4 ,jesus emphasiz$1    
fir/1 t !y %\ld n ?9k ( prop]ty2 b ,he  
always clos$ ,8 disc\rses by "s su*     
/atem5t z ?is3 ,if y w d ^! ?+s1 all ( !
 o!rs w be giv5 to y4  ,x is absolutely 
impossible = any individual to develop !
 above fundam5tals ( prosp]ity1--fai?1  
integrity1 indu/ry & bro!rly            
k9dness--)\t be+ successful4 ,i c>e n   
:e!r he is a doctor1 tea*]1 bank]1      
lawy]1 bus9ess man or manufactur]4 ,t   
same ?+ is true ( gr\ps & ( nations4 ,x 
is fundam5tal law1 ,:atsoev] a man s[e? 
t %all he also reap4 ,^? :o s]ve w be   
s]v$2 ^? :o knock w be knock$2 ^? :o    
boo/ w be boo/$4 ,we are paid 9 ! co9 t 
we give4 ,we are =giv5 z we =give4 ,if  
we are fri5dly1 we w make fri5ds4       
,/ati/ics %[ t ! ,*ur* is ! greate/     
factor 9 ! worldly success ( m51 gr\ps &
 nations4 ,"s read]s may h se5 a book   

writt5 by ,pr(essor ,c>v] ( ,h>v>d      
entitl$1 ,! ,religion ,wor? ,hav+4 ,9 t 
book ! au?or discusses ! v>i\s          
d5om9ations ( ,*ri/ianity4 ,!n he says  
mo/ conclusively t ! religion wor? hav+1
 ! religion t w survive1 is ! religion  
:i* produces ! mo/4 ,yet ?is production 
w n come by seek+ production p] se1 b r 
by ! developm5t ( ^! fundam5tal         
*>act]i/ics :i* h be5 describ$4  ,try z 
y w y _c sep>ate ! factor ( religion f  
economic developm5t4 ,9 ! "w conduct$ by
 my ,organization at ,wellesley ,hills  
we /udy ! tr5d ( religi\s int]e/ z      
closely z we d ! condition ( ! banks or 
! supply ( & dem& = commodities4        
,/ati/ics ( *ur* memb]%ip =m "o ( ! be/ 
b>omet]s ( bus9ess conditions4 ,we h ^! 
figures *>t$ back = ! pa/ fifty ye>s4   
,:5ev] ?is l9e ( religi\s int]e/ turns  
d[nw>d & rea*es a l[ level1 hi/ory %[s t
 x is "t to prep>e = a reaction &       
depression 9 bus9ess conditions4 ,e     
great panic we h ev] _h has be5 =e%ad[$ 
by a g5]al decl9e 9 obs]vance ( religi\s

 pr9ciples4 ,on ! o!r h&1 :5 ! l9e (    
religi\s int]e/ beg9s to climb & !      
nation turns aga9 to ! simple mode (    
liv+ laid by 9 ! ,bible1 !n x is "t to  
make ready = a p]iod ( bus9ess          
prosp]ity4     ,,xi  ,,! ,,future ,,*ur*
      ,! "t is com+ :5 ! ,*ur* w awake  
to its great     opportunities4 ,!      
greate/ indu/ry 9 ,am]ica b !     mo/   
backw>d & ineffici5tly op]at$1 is /ill 9
 !     /age-coa* class4   ,( c\rse !    
,*ur* is v f> f develop$4 ,! ,*ur* is 9 
! same position to-day z 7 ! wat]-p[]s  
fifty ye>s ago4 ,! ,*ur* has great      
res\rces2 b ^! res\rces are sadly       
undevelop$4 ,f an effici5cy po9t ( view1
 f an organization po9t ( view1 f a     
production po9t ( view1 ! ,*ur* to-day  
is 9 ! /age-coa* class4 ,x holds )9     
itself ! keys ( prosp]ity4 ,x holds )9  
itself ! salvation & solution ( our     
indu/rial1 comm]cial & int]national     
problems4 ,yet x is work+1 or at lea/ ! 
,prote/ant bran* is op51 only ?ree or   
f\r h\rs a week4 ,! ,*ur* has ! greate/ 

opportunity to-day ( any indu/ry4 ,x is 
! lea/ develop$ indu/ry1 ! mo/          
ineffici5tly op]at$1 & ! mo/ backw>d 9  
its me?ods4  ,let u %ut our eyes & look 
ahead at :at x w be tw5ty-five ye>s f   
n[4 ,let u imag9e five *ur*es )9 a      
radius ( five miles4 ,all ( !m n[ op]at+
 indep5d5tly4 ,ea* "o op5 only a few    
h\rs a week4 ,tw5ty-five ye>s f n[ ^!   
five *ur*es w be l9k$ up toge!r "u a    
g5]al manag] :o w n be a p>son1 b :o w  
be a bus9ess man4  ,to-day ! prea*] (   
our *ur*es is a comb9ation ( prea*]1    
bus9ess manag]1 & salesman4 ,he is !    
s]vice dep>tm5t1 ! f9ance dep>tm5t &    
ev]y?+ b ! janitor4 ,! ,*ur* is be+     
op]at$ to-day z a college w\ld be op]at$
 ) "o pr(essor1 :o w\ld be presid5t1    
treasur]1 g5]al manag]1 & ev]y?+ else4  
,! ,*ur* is be+ op]at$ to-day z a       
factory ) simply a production man & no  
"o to t5d ! f9ances or ! sales4         
,manufactur]s read+ ?is book "k h[ long 
a factory c\ld be run ) only a          
sup]9t5d5t & no "o to sell or f9ance !  

proposition4  ,tw5ty-five ye>s f to-day1
 in/ead ( ! pa/or be+ at ! head ( ! *ur*
 & a few good p do+ volunt>y "w1 !re w  
be f\r or five *ur*es ( ! same          
d5om9ation unit$ "u "o g5]al manag]4 ,i 
d n mean by ?is t f\r ( !m w be clos$4  
,!y w all be op5 mu* m ?an !y are n[2 b 
!y w all be "u "o g5]al manag] & w be   
tak+ ord]s f t g5]al manag]4 ,tw5ty-five
 ye>s f to-day ! *ur*es w be            
self-support+4 ,! days ( begg+ w be ov]4
 ,religion has be5 *eap5$ by s++ ab\t   
salvation's free = y & me4 ,:5 we h our 
legal difficulties1 we g to a lawy] &   
pay him2 :5 we h a pa9 we g to a doctor 
& pay him2 if we want our *ildr5 taught 
we pay ! price2 b if we want our *ildr5 
in/ruct$ 9 ! fundam5tals ( prosp]ity ^u 
:i* _! future dep5ds1 we s5d !m to a    
,sunday ,s*ool = a half-h\r a week ) !  
possibility ( hav+ !m taught by a silly 
girl :o doesn't "k h] "w4 ,9 any ev5t ! 
p>5t seldom takes ! tr\ble to asc]ta9 ! 
quality ( ! tea*+4  ,! "t is com+ :5 !  
,*ur* w awake to its great pr9ciples &  

opportunities4 ,! greate/ indu/ry 9     
,am]ica is /ill ! mo/ backw>d & mo/     
ineffici5tly op]at$4 ,:5 ^! f\r or five 
*ur*es are comb9$1 ! prea*] w n h to    
sp5d half ! week 9 prep>+ a diff]5t     
s]mon e ,sunday4 ,he w h two weeks or a 
mon? to prep>e t s]mon4 ,he w h "t & h !
 pep & en]gy to deliv] x to y s y won't 
g to sleep :ile sitt+ 9 ! pews4 ,!      
audi5ce w !n he> ! same prea*] only once
 ea* mon?1 & ! prea*] w !n h m ?an "o   
congregation to appeal to4  ,! same man 
is n go+ to be expect$ to prea* on      
,love1 ,hate1 ! ,league ( ,nations1 ,h[ 
to ,settle ,lab\r ,disputes & ! ,heal? (
 ! ,community & e o!r subject4 ,all ( ^!
 m5 w prea* ! salvation ( ,jesus1 b ea* 
"o w specialize 9 "o p>ticul> phase ( ! 
,*ri/ian life1 su* z ,fai?1 ,integrity1 
,indu/ry1 ,cooep]ation4 ,!n we w take m 
/ock 9 our prea*]s because !y won't     
pret5d to "k e subject4 ,!n ! prea*] w n
 be ( less] intellig5ce ?an ! av]age    
audi5ce4  ,fifty ye>s ago ! able/ m5 9 e
 community 7 ! prea*]s1 ! doctors1 & !  

lawy]s4 ,!y 7 ! only college graduates (
 ! t[n & 7 look$ up to4 ,to-day1 :ile we
 pay our salesmanag]s f #ae1jjj to      
#bj1jjj a ye>1 & lawy]s & doctors l>ge  
fees1 we pay our prea*]s only mis]able  
sal>ies4 ,x's a damnable disgrace to all
 ( u4 ,i (t5 ?9k t if ,jesus 7 to come  
back to u1 t ,he w\ld take = ,8 text t  
?\ght f ! ,s]mon on ! ,m\nt1 ,if y h    
aught aga9/ y\r neighb\r1 be=e y ent]   
into y\r wor%ip g & squ>e up4 ,i ?9k t  
:5 ,he came 9 to speak to u on ,sunday  
morn+1 ,he w\ld say3  ,g5tlem51 ,i      
sugge/ t be=e we h ?is s]vice1 we raise 
funds to pay ! prea*] a dec5t sal>y4    
99       99       99       99       99  
,j be=e ,i w5t to ,brazil ,i 0 ! gue/ ( 
! ,presid5t ( ! ,arg5t9e ,republic4     
,aft] lun*+ "o day we sat 9 8 sun p>l\r 
look+ out ov] ! riv]4 ,he 0 v ?\ghtful4 
,he said1 ,mr4 ,babson1 ,i h be5 wond]+ 
:y x is t ,s\? ,am]ica ) all its great  
natural advantages is s f> beh9d ,nor?  
,am]ica not)/&+ t ,s\? ,am]ica 0 settl$ 
be=e ,nor? ,am]ica4 ,!n he w5t on to    

tell h[ ! =e/s ( ,s\? ,am]ica _h two    
hundr$ & eighty-six trees t c be f\nd 9 
no book ( botany4 ,he told me ab\t _m   
ran*es t _h ?\s&s ( acres "u alfalfa 9  
"o block4 ,he m5tion$ ! m9es ( iron1    
coal1 copp]1 silv]1 gold2 all ^? great  
riv]s & wat]-p[]s :i* rival ,niag>a4 ,:y
 is x1 ) all ^! natural res\rces1 ,s\?  
,am]ica is s f> beh9d ,nor? ,am]ica8 he 
ask$4 ,well1 ^? ( y :o h be5 !re "k !   
reason4 ,b1 be+ a gue/1 ,i said3  ,mr4  
,presid5t1 :at d y ?9k is ! reason8  ,he
 repli$3 ,i h come to ?is conclusion4   
,s\? ,am]ica 0 settl$ by ! ,spani% :o   
came to ,s\? ,am]ica 9 se>* ( gold1 b   
,nor? ,am]ica 0 settl$ by ! ,pilgrim    
,fa!rs :o w5t !re 9 se>* ( ,god4        
,fri5ds1 let u z ,am]ican citiz5s nev]  
kick d[n ! ladd] by :i* we climb$ up4   
,let u nev] =get ! f\ndation ^u :i* all 
p]man5t prosp]ity is bas$4     ,pr9t$ 9 
! ,unit$ ,/ates ( ,am]ica